You’ve been awarded the marital home through the negotiation process. What’s next? You’ll want to speak with a mortgage professional who specializes in divorce.

Qualifying to Refinance

You will need to qualify for the new loan using only your income and assets. You’ll need to provide paystubs, W2s, bank statements and your divorce documentation. In Colorado this would include your Separation Agreement (Memorandum of Understand) or notes from the Court. If you have children, you will also need to provide your Parenting Plan.

In the state of Colorado, a Divorce Decree is not necessary if it has not been issued yet.

Your credit will need to be in good shape as well. Best to keep debt to a minimum during the refinance process.

If you need to utilize support payments (alimony, child support) there will be a waiting period of 3 to 6 months. This is to ensure that the ex-spouse who is mandated to pay the support payments is actually doing so.

Removing a Name from the Mortgage

If your ex-spouse is on Title for the home, the Title Company involved with the refinance will create a Quit Claim Deed for your ex-spouse to sign with a notary. This will remove your ex-spouse from ownership of the home.

Taking Equity Out to Give to the Ex-Spouse

If the Courts award the ex-spouse equity from the home as part of the settlement the equity can be pulled from the home through the divorce as long as you qualify with the increased mortgage.


When it comes to refinancing your home, you would be wise to consider retaining the services of a lending professional who understands the nuances of the divorce process and ensure this professional is involved upfront and before the Divorce Agreement is finalized.


Jan Parsons


Jan Parsons Smith
Production Manager, NMLS #442729

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